Greece: 2021 Article IV Consultation-Press Release; and Staff Report

2021 Article IV Consultation-Press Release; and Staff Report

Volume/Issue: Volume 2021 Issue 154

Publication date: July 2021

ISBN: 9781513588933

$0.00

Add to Cart by clicking price of the language and format you'd like to purchase

Available Languages and Formats


English

Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Money and Monetary Policy , Public Finance , Taxation - General , International - Economics , liability positions vis-à-vis nonresident , money market rate , IMF repayment capacity , General government financing requirement , Hercules securitization strategy , SDR million , COVID-19 , Loans , Tax administration core functions , Global , Europe

Also of interest

Nepal

Republic of Congo : 2001 Article IV

Peru

Summary

Greece entered the pandemic with an unfinished recovery, but the country has demonstrated resilience in facing COVID-19. The economy contracted by 8.2 percent in 2020, better than expected given Greece’s high dependence on tourism and pre-existing vulnerabilities. The government provided among the largest on-budget fiscal stimuli in the euro zone and supervisory and ECB accommodation shielded the banking sector and kept financing conditions highly accommodative. Despite the pandemic, reforms progressed in a number of areas, albeit at a slower pace than in recent years.